`Global Olive Oil Consumption Forecast to Climb, Led by U.S., China, Brazil


Global Olive Oil Consumption Forecast to Climb, Led by U.S., China, Brazil

Dec. 14, 2011
Julie Butler

Recent News

Global olive oil con­sump­tion will climb a fur­ther 3.2 per­cent in 2011/12, enough to soak up total pro­duc­tion, fore­cast to be nearly 3.08 mil­lion tons, accord­ing to the Inter­na­tional Olive Council’s Novem­ber newslet­ter.

And that growth won’t come from the EU’s eight pro­ducer coun­tries, because their over­all con­sump­tion is falling. How­ever, com­pared with 2008/09, olive oil con­sump­tion grew by 50 per­cent in China, 47 per­cent in Rus­sia, 35 per­cent in Japan, 23 per­cent in Canada and 20 per­cent in Brazil last year.

Olive Oil Pro­duc­tion

In its approved fig­ures for 2009/10, the IOC reports that the crop year opened with 669,500 tons in global carry-over stocks and closed with 740,000 tons. World pro­duc­tion reached 2.97 mil­lion tons, up 11.4 per­cent on the pre­vi­ous sea­son. Of this, Spain pro­duced 1.4 mil­lion tons, fol­lowed by Italy with 430,000 tons.

World pro­duc­tion for 2010/11 is pro­vi­sion­ally assessed at 3.018 mil­lion tons, up 1.5 per­cent, and fore­cast to rise another 3 per­cent in 2011/12.


Over­all, the world con­sumed 2.90 mil­lion tones of olive oil in 2009/10 — a 2 per­cent increase on the sea­son before and 5 per­cent higher than the aver­age of the last four crop years. The EU/27 accounted for 64 per­cent of total con­sump­tion and the U.S. 9 per­cent.

Pro­vi­sional fig­ures sug­gest global con­sump­tion con­tin­ues to increase, up 3 per­cent in 2010/11 to reach 2.98 mil­lion tons. Among IOC non-mem­ber coun­tries, con­sump­tion growth this year is expected to total 8.5 per­cent, dri­ven by the USA, China, Brazil and Canada.


World imports totalled 652,000 tons in 2009/10, of which the US took 40 per­cent , Brazil 8 per­cent, Canada and Japan 6 per­cent each, and China and Rus­sia 3 per­cent each. Exports came to 653,000 tons, up 7 per­cent.

In the twelve-month from Octo­ber to Sep­tem­ber this year, imports increased into Brazil (20 per­cent), Canada (5 per­cent) and the USA (7 per­cent) com­pared to the same period a year before, but fell 12 per­cent in Japan.

Data for Aus­tralia and the EU data were not yet avail­able for Sep­tem­ber, but the fig­ures for the first eleven months reveal a 9 per­cent drop in Aus­tralian imports and a 12 per­cent rise in EU imports.

Pro­ducer prices

Prices in Italy have recently fallen sharply after reach­ing a record of €3.92/kg in week 20 of the cur­rent pro­duc­tion year. They have now plateaued at the same level they were from Feb­ru­ary to Octo­ber 2010.

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